Bisnis.com, JAKARTA — A number of listed gold producers has emerged as top stock picks as as bullion prices remain resplendent amid sustained geopolitical tensions, shifting global trade environment, and mounting expectations of interest rate cuts by the US Federal Reserve.

That assessment was outlined by analysts at NH Korindo Sekuritas Indonesia in a report released on Friday (2/20/2026). The brokerage continues to favor PT Aneka Tambang Tbk. (ANTM), widely known as Antam, and PT Merdeka Gold Resources Tbk. (EMAS) as its top picks within the gold sector.

Bisnis.com, JAKARTA — The world’s two largest asset managers, BlackRock Inc. and The Vanguard Group Inc., are having divergent paths in Boy Thohir-linked miner PT Merdeka Copper Gold Tbk. (MDKA).

MDKA stocks have been on an upward trend, buoyed by a sustained rally in metal prices. As of Wednesday (2/11/2026), the stock closed 2.27% higher at Rp3,160 apiece, cementing its year-to-date gain to 38.60% and extending its 12-month gain to 112.08%.

Bisnis.com, JAKARTA — Astra Group's PT United Tractors Tbk. (UNTR) posted sales improvements across all of its business segments through November 2025. A combination of prospects and headwinds is expected to influence United Tractors’ performance heading into 2026.

Up to November 2025, UNTR reported monthly sales of 4,305 units of Komatsu heavy equipment, an increase from 4,167 units in the corresponding period a year earlier. This represented a 3.31% year-on-year growth in heavy equipment sales.

Bisnis.com, JAKARTA — Indonesia’s gold producers are enjoying a favourable backdrop in 2025, lifted by the continued rally in global gold prices. Shares of key gold-mining companies — UNTR, MDKA, AMMN, BRMS, and others — have been trading briskly, with most notching notable gains.

This raises a key question: among UNTR, MDKA, AMMN, and BRMS, which player is emerging as the production leader? And how do their respective gold sales stack up?

Bisnis.com, JAKARTA — Analysts are upbeat on the stock outlook of PT Aneka Tambang (ANTM) after the state-owned gold miner booked solid results as of Q3 2025.

Antam recorded a net profit of IDR 5.97 trillion from Q1 through Q3, far above the IDR 2.20 trillion earned in the same period last year.

Bisnis.com, JAKARTA — BlackRock Inc. and Goldman Sachs have reversed course on the shares of PT Aneka Tambang (ANTM) at the start of the fourth quarter, as the two US investment companies were seen offloading their holdings after a steady accumulation.

ANTM closed down 3.30% at IDR 3,220 on Thursday (9/10/2025), though it still reflected a 111.15% gain year to date (YtD). The stock’s downward trend has been visible over the past month, with a 10.80% correction recorded.